Typography

 

 

The Board of Management of PUMA AG welcomes the acquisition by the French luxury goods company Pinault-Printemps-Redoute (PPR) of the stake of Mayfair "Beteiligungsfondsgesellschaft" in PUMA as well as the intended voluntary public take-over offer by PPR to PUMA shareholders.

As a result, PUMA will not only receive the support of a financially strong and leading international company as it implements its Phase IV expansion strategy, but will also benefit from PPR’s global positioning, strong portfolio of premium brands and expertise in the retail business.

Jochen Zeitz, CEO and Chairman, PUMA AG: "The PUMA Board of Management is convinced that PPR, as one of the world’s top fashion and retail companies will be the perfect partner for PUMA, one of the world’s leading Sportlifestyle companies. Both companies have a European background and ideally complement each other with regard to their global perspective. With the support of PPR, we plan to strengthen our position as the leading company in the Sportlifestyle market with a continued focus on long-term sustainable growth.

The PUMA Board of Management unanimously believes that PPR’s engagement is in the best interests of the company and that the announced offer price per share of EUR 330 for the voluntary public take-over offer is fair. Based on a preliminary fairness opinion issued by Lehman Brothers and subject to review of the offer document, the Board of Management will recommend the offer to the PUMA Shareholders.

Last year PUMA strengthened its external design portfolio through a partnership with Alexander McQueen, which included a jointly-launched Footwear collection. Along with other top designers, McQueen is also part of the PPR Group. Going forward PUMA can utilize PPR’s premium segment design and sourcing expertise, contributing to the further improvement of PUMA’s product offering. Additionally, PPR’s experience in worldwide retail, wholesale and multi-brand management will provide valuable support to PUMA’s brand expansion plans.

In a "Letter of Intent" to the PUMA Board of Management, PPR has emphasized its strong interest in PUMA and assures its solid confidence in the company as well as its full support regarding the implementation of the Phase IV goals of PUMA’s long-term development plan.

Francois-Henri Pinault, CEO and Chairman of PPR: "PUMA is one of the leading Sportlifestyle companies in the world. The successful expansion strategy as well as the long-term growth potential of PUMA complement the PPR portfolio perfectly. We guarantee PUMA’s continuity as an autonomous company within the PPR Group and we will support the management with our resources and our know-how in strengthening PUMA’s unique brand positioning.

In the context of the planned transaction there will be no changes with regard to staffing. The PPR Group acknowledges and fully supports that the current board, management and employees of PUMA will continue to work on the successful implementation of the company’s strategy. The employees of PUMA have contributed importantly – with their passion, their creativity and their continuous innovation – to the success of PUMA. The "Letter of Intent" of PPR furthermore states that these corporate values will be ensured in the future. Additionally, all PUMA locations including headquarter locations in Herzogenaurach, Hong Kong and Boston will retain their full independence.

 

Comments (0)

There are no comments posted here yet

Leave your comments

Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location
Type the text presented in the image below

LATEST FOOTBALL KITS

Orlando Pirates 2018-19 Adidas Away Kit

#OrlandoPirates #adidasfootball #1819OP Orlando Pirates 2018-19 Adidas Away Kit

Orlando Pirates revealed their new Adidas away kit for the 18/19 season. The away jersey sees the return of the powerful, striking two-toned red…
Orlando Pirates 2018-19 Adidas Home Kit

Orlando Pirates 2018-19 Adidas Home Kit

Orlando Pirates today revealed their new adidas kit for the 2018/2019 season, showcasing a bold new look while retaining strong elements of classic…
Walsall 2018-19 Errea Third Kit

Walsall 2018-19 Errea Third Kit

Walsall revealed the Saddlers' new third kit for the 18/19 campaign. The grey and electric green strip is manufactured by Errea and sponsored by…
Northampton Town 2018-19 Nike Away Kit

Northampton Town 2018-19 Nike Away Kit

The new Northampton Town 18/19 away kit by Nike has been revealed. The new away shirt is made with Nike Dry fabric, designed to help you stay dry and…
Macclesfield Town 2018-19 Macron Away Kit

Macclesfield Town 2018-19 Macron Away Kit

Macclesfield Town revealed their new Macron away kit for the 18/19 season which is a black and grey design. Zaki Artistic Management's logo appears…
Macclesfield Town 2018-19 Macron Home Kit

Macclesfield Town 2018-19 Macron Home Kit

Macclesfield Town revealed their new Macron home kit for the 18/19 season. The home kit is a stylish two-toned blue shirt, together with traditional…
Watford 2018-19 Adidas Away Kit

Watford 2018-19 Adidas Away Kit

Watford's new Adidas away kit for the 18/19 season has been revealed. Adidas is dedicated to creating products in ways that minimise their…
Lincoln City 2018-19 Errea Away Kit

Lincoln City 2018-19 Errea Away Kit

Lincoln City have revealed the brand new away shirt for the 18/19 season, sponsored by APSS. The anthracite grey Errea shirt will be worn by the…
Rovers 2018-19 Macron Home and Away Kits

Bristol Rovers 2018-19 Macron Home and Away Kits

The new Bristol Rovers 18/19 kits have been launched for the upcoming season, with a modern twist on the club's traditional blue and white quarters…
Boca Juniors 18/19 Nike Away Kit

Boca Juniors 18/19 Nike Away Kit

This is the new Boca Juniors 18/19 away football shirt by Nike. Inspired by a seismometer, the away jersey features a navy stripe with Richter…
Boca Juniors 18/19 Nike Home Kit

Boca Juniors 18/19 Nike Home Kit

This is the new Boca Juniors 18/19 home football shirt by Nike. Classic blue and gold colours appear on the home kit, continuing the memorable design…
Club America 2018-19 Nike Home Kit

Club America 2018-19 Nike Home Kit

This is the new Club América 18/19 home football shirt by Nike. The new home kit will be used during the 2018–19 Liga MX season, which is the 72nd…
Club America 2018-19 Nike Away Kit

Club America 2018-19 Nike Away Kit

This is the new Club América 18/19 away football shirt by Nike. The new away kit will be used during the 2018–19 Liga MX season, which is the 72nd…
Bayern Munich 2018-19 Adidas Away Kit

Bayern Munich 2018-19 Adidas Away Kit

The new Bayern Munich home kit for the 18/19 campaign has been revealed. The embroidered FCB crest and the adidas label adorn the front of this ash…
Borussia Dortmund 2018-19 Puma Tournament Kit

Borussia Dortmund 2018-19 Puma Tournament Kit

The new Borussia Dortmund 18/19 Tournament jersey by Puma has been revealed. The BVB Tournament Shirt will be used during the Champions League and…
Hull City 2018-19 Umbro Away Kit

Hull City 2018-19 Umbro Away Kit

Hull City revealed the new away kit by Umbro for the 18/19 season. The dark and moody kit, which features amber on the neckline and cuffs synonymous…
Celtic 2018-19 New Balance Third Kit

Celtic 2018-19 New Balance Third Kit

Celtic’s new 18/19 New Balance away kit has been revealed. Engineered using innovative NB DRY technology, the 3rd Kit SS Jersey wicks moisture away…
Bolton Wanderers 2018-19 Macron Away Kit

Bolton Wanderers 2018-19 Macron Away Kit

Macron and Bolton Wanderers revealed the away kit that the team will wear over the course of the 18/19 season. The kit is fully black with a…
Chelsea 2018-19 Nike Away Kit

Chelsea 2018-19 Nike Away Kit

Nike and Chelsea launched the new away kit for the 18/19 season. The kit brings a return to a yellow colour scheme, made famous through regular…
Napoli 2018-19 Kappa Home Kit

Napoli 2018-19 Kappa Home Kit

In collaboration with SSC Napoli, Kappa’s research and development centre has designed a technical fabric with aggressive and striking imagery…